Decision Making Uncertain Environment - A Queuing Theory Approach

( Vol-2,Issue-6,June 2016 )

Author(s): Bhupender Kumar Som

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Page No: 808-816
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Keywords:

Reverse balking, customer impatience, retention of customers, stochastic modeling, queuing theory.

Abstract:

Consumer behavior is one of the most uncertain phenomenons. Customer impatience is one of those uncertain phenomenon’s which is a threat to any business. Customer impatience results in loss of customers and business. Stochastic modeling provides numerical measurement of necessary measures of performance in any business up-to a certain extent. In this paper a multi-server Markovian queuing system is developed with reverse balking and impatient customers. Reverse balking is a very new concept introduced in stochastic queuing models. While reneging is one of the most known phenomenon in queuing theory. Steady-state solution of the newly developed model is derived. Necessary measures of performance are obtained and numerical results are presented. Sensitivity analysis of the model is also performed. MATLAB and MS Excel are used as and when needed.

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